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India's government is taking steps to hold food prices down ahead of the general elections, with rice, wheat and onion exports banned and sugar exports effectively restricted. Officials are also planning to sell wheat from state reserves starting mid-June.
Ongoing Indian export bans and planned wheat sales from reserves reinforce tight export supply for rice and wheat, supporting world prices while domestic stocks are drawn down.
thehindubusinessline.comPrabhudatta MishraApr 7, 2024After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
